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More support in Budget 2011 for business R&D

Hon Dr Wayne Mapp
Minister of Science and Innovation
19 May 2011

More support in Budget 2011 for business R&D

The Government is reprioritising $36 million over four years for business research and development, commercialisation and earthquake research, Science and Innovation Minister Wayne Mapp says.

This includes:

• $24 million over four years for business R&D and commercialisation.

• $12 million over four years for earthquake research to help rebuild Christchurch. An additional $2 million has already been committed from the 2010/11 financial year as an immediate response to the earthquake.

“Science and innovation are cornerstones in lifting New Zealand’s economic growth. They also have a crucial role in dealing with natural hazards like earthquakes,” Dr Mapp says.

“The Government is fully committed to prioritising science and innovation investment to help diversify New Zealand’s economy.

“The major fiscal challenges we are facing have been increased by the Canterbury earthquakes. But through science and innovation we will build our country’s wealth and help rebuild and revitalise Christchurch.”

The funding for business will go into priority areas such as high-value manufacturing products and services, and will be aimed at connecting research with business innovation.

The funding for earthquake research will focus on science that can provide practical support to Canterbury’s recovery.

“This research will look at questions that need urgent answers, such as why some stairs inside buildings collapsed, as well as important longer-term issues such as better understanding earthquake risks in Canterbury. This will assist with the revision of building codes,” Dr Mapp says.

The extra funding for business and earthquakes has been reprioritised from within Vote Science and Innovation. The funding has been moved mainly from the areas of biological and social research.

Budget 2011 builds on this Government’s previous two Budgets. Budget 2009 invested in basic science and science capability, while Budget 2010 included a major boost of $234 million over four years to support business R&D.

“The Government will continue to work on further initiatives to support firms, and to bring business, research and government closer together for New Zealand’s benefit,” Dr Mapp says.

ENDS


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